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The ‘Commodity’ segment, excerpted and expanded upon, from NFTRH 251:
The commodity complex is famous for a sort of ‘Whack-a-Mole’ quality to it. Do you remember back in the go-go days when it was NatGas (2005)? Uranium (2007)? Crude Oil (2008) and then a cluster of Copper (2011), Grains (2011) and Silver (2011)? (more…)
I wanted to post copies of many of the charts I examine on a daily basis. I found that there are just too many to post in one entry, so I’ll blast them all out over the course of the next couple of days. We’ll look at other cyclical names, dividend payers, banks, and health insurers. Simply drop by goatmug.com later this weekend. We’ll start with energy as it has been quite interesting of late. If inflation and global growth is muted, why do we still have $105 oil? Let’s jump in. (more…)
Spot gold is holding its recent gains exceptionally well and in fact looks like it is either carving out a high-level bullish consolidation area between $1340 and $1325 OR has already completed a minor pullback from earlier Tuesday at $1326.55 and embarked on a new up-leg. (more…)
If we are to see a retracement shortly, or indeed if the bears are to get the double-top they are looking for, then this is the place to see it. At the least we should start seeing more two way action here now because SPX closed just under the weekly upper bollinger band on Friday. Weekly closes above this are rare, and even in a strong uptrend this can only rise 10-15 points per week, so more two way action now is likely. SPX weekly chart: (more…)
Take a look at the ETF symbol DBC, which is the commodity fund. There is a consistent series of lower highs and lower lows, and given the surge we’ve had in crude oil the past several weeks, a large portion of its gap has been closed. Strictly speaking, the gap is at $26.43, so there are still a few dimes to go, but we’re awfully close. (more…)
